Inheritance, which is the source of the greater part of the unearned income in the world, is regarded by most men as a natural right. Sometimes, as in England, the right is inherent in the owner of property, who may dispose of it in any way that seems good to him. Sometimes, as in France, his right is limited by the right of his family to inherit at least a portion of what he has to leave. But neither the right to dispose of property by will nor the right of children to inherit from parents has any basis outside the instincts of possession and family pride. There may be reasons for allowing a man whose work is exceptionally fruitful—for instance, an inventor—to enjoy a larger income than is enjoyed by the average citizen, but there can be no good reason for allowing this privilege to descend to his children and grandchildren and so on for ever. The effect is to produce an idle and exceptionally fortunate class, who are influential through their money, and opposed to reform for fear it should be directed against themselves. Their whole habit of thought becomes timid, since they dread being forced to acknowledge that their position is indefensible; yet snobbery and the wish to secure their favor leads almost the whole middle-class to ape their manners and adopt their opinions. In this way they become a poison infecting the outlook of almost all educated people. It is sometimes said that without the incentive of inheritance men would not work so well. The great captains of industry, we are assured, are actuated by the desire to found a family, and would not devote their lives to unremitting toil without the hope of gratifying this desire. I do not believe that any large proportion of really useful work is done from this motive. Ordinary work is done for the sake of a living, and the very best work is done for the interest of the work itself. Even the captains of industry, who are thought (perhaps by themselves as well as by others) to be aiming at founding a family, are probably more actuated by love of power and by the adventurous pleasure of great enterprises. And if there were some slight diminution in the amount of work done, it would be well worth while in order to get rid of the idle rich, with the oppression, feebleness, and corruption which they inevitably introduce. The present system of distribution is not based upon any principle. Starting from a system imposed by conquest, the arrangements made by the conquerors for their own benefit were stereotyped by the law, and have never been fundamentally reconstructed. On what principles ought the reconstruction to be based?